‘It was, at best, hasty and naive, and, at worst, manipulative’: Experts slam Elon Musk’s confusing defense of why he tweeted ‘funding secured’ (TSLA)

martin

8 years ago

elon musk Rebecca Cook / Reuters

Tesla CEO Elon Musk released a statement on Monday in which he shed light on some of the questions raised last week by his statements about taking the company private.
But Musk’s explanation is incomplete and raises new questions, experts say.
Musk’s new statement doesn’t back up his claim last week that he had “secured” funding to take Tesla private, Jeffrey Sonnenfeld, the senior associate dean for leadership studies at the Yale School of Management, told Business Insider.
And Musk doesn’t explain an estimate he makes about the amount of funding he’ll have to raise to convert Tesla into a private company.

Tesla CEO Elon Musk released a statement on Monday in which he shed light on some of the questions raised last week by his statements about taking the company private. But Musk’s explanation is incomplete and raises new questions, experts told Business Insider.

Last week, Musk said he was considering taking Tesla private for $ 420 a share and implied that he had the funding to do so “secured,” pending a shareholder vote. But, at the time, he didn’t explain where that funding would come from. See the rest of the story at Business Insider

NOW WATCH: How a Wall Street chief strategist’s Costco shopping experience explains the biggest misconception about global trade